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Carbon Capture & Sequestration Market worth $22.46 billion by 2030, growing at a CAGR of 12.24% - Exclusive Report by 360iResearch
Carbon Capture & Sequestration Market | 360iResearch
The Global Carbon Capture & Sequestration Market to grow from USD 10.00 billion in 2023 to USD 22.46 billion by 2030, at a CAGR of 12.24%.
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Carbon capture and sequestration is a technique that encompasses the capture of carbon dioxide (CO2) emissions originating from diverse sources such as power plants or industrial facilities. The captured CO2 is subsequently stored or sequestered to prevent its discharge into the atmosphere. Governments worldwide are implementing policies and regulations to encourage the adoption of CCS technologies. These include financial incentives, tax credits, carbon pricing mechanisms, and emissions reduction targets. Supportive government policies play a crucial role in driving the growth of the CCS market. However, the high initial investments and issues related to safety concerns can hinder market growth. Furthermore, ongoing research and development efforts are focused on improving CCS technologies, making them more efficient and cost-effective. Innovations in capture methods, storage techniques, and monitoring systems are key focus areas for technology developers, which are anticipated to create growth opportunities for the market.
The CCS market landscape in the Americas is driven by supportive government policies, increasing project investments, growing research and development efforts, and a significant growth of the oil and gas industry. As countries strive to meet emission reduction targets and address climate change, CCS is expected to play a vital role in mitigating CO2 emissions and transitioning to a low-carbon economy in the region. The EMEA region is expected to experience significant carbon capture and sequestration market growth due to the rapidly expanding environmental concerns in Germany, Italy, the United Kingdom, South Arabia, and the Netherlands. The favorable governmental laws and regulations for pollution management and control in the EMEA region positively influence the carbon capture and sequestration market. Moreover, academic institutions, research organizations, and industry players in EMEA have been actively engaged in CCS research and development. Research efforts have focused on improving capture technologies, storage site characterization, and developing cost-effective and efficient CCS solutions. The CCS market landscape in APAC is characterized by growing interest and investments in CCS projects, driven by the need to reduce emissions from fossil fuel-based industries and achieve climate goals. Government initiatives, pilot projects, and research collaborations contribute to the region's advancement of CCS technologies and infrastructure. As countries in APAC continue to prioritize emissions reduction and sustainable development, CCS is expected to play an increasingly important role in their decarbonization strategies.
Market Segmentation & Coverage:
This research report categorizes the Carbon Capture & Sequestration Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Service, market is studied across Capture, Storage, and Transportation. The Capture is further studied across Oxy-Fuel Combustion, Post-Combustion Capture, and Pre-Combustion Capture. The Capture commanded largest market share of 62.02% in 2023, followed by Storage.
Based on Application, market is studied across Agricultural, EOR Process, and Industrial. The EOR Process commanded largest market share of 69.00% in 2023, followed by Industrial.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.54% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Carbon Capture & Sequestration Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Carbon Capture & Sequestration Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Carbon Capture & Sequestration Market, highlighting leading vendors and their innovative profiles. These include Air Products and Chemicals, Inc., Aker Solutions ASA, Baker Hughes Company, BP PLC, Carbon Clean Solutions Limited, Carbon Engineering Ltd., Carbon8 Systems Ltd., CarbonFree, Cenovus Inc., Climeworks, Equinor ASA, Exxon Mobil Corporation, Fluor Corporation, General Electric Company, Global Thermostat, Halliburton Company, Hitachi, Ltd., Honeywell International Inc., Kinder Morgan, Inc., LanzaTech, Linde PLC, Mitsubishi Heavy Industries, Ltd., Petroliam Nasional Berhad, Royal Dutch Shell PLC, Saipem S.p.A., Sasol Limited, Schlumberger Limited, Siemens AG, TotalEnergies SE, and Wood PLC.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Carbon Capture & Sequestration Market, by Service
7. Carbon Capture & Sequestration Market, by Application
8. Americas Carbon Capture & Sequestration Market
9. Asia-Pacific Carbon Capture & Sequestration Market
10. Europe, Middle East & Africa Carbon Capture & Sequestration Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Carbon Capture & Sequestration Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Carbon Capture & Sequestration Market?
3. What is the competitive strategic window for opportunities in the Carbon Capture & Sequestration Market?
4. What are the technology trends and regulatory frameworks in the Carbon Capture & Sequestration Market?
5. What is the market share of the leading vendors in the Carbon Capture & Sequestration Market?
6. What modes and strategic moves are considered suitable for entering the Carbon Capture & Sequestration Market?
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